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so look, he can decide, i agree with senator schumer, we're not going to go over the fiscal cliff to use that terminology. something's going to happen before year end. hopefully it's a comprehensive package that solves our nation's problems then later, next year, we deal with tax reforms in a revenue neutral way. what i -- i'll stop. >> chris: hemorrhaginge >> this goes beyond the deal. why should congress give up it's constitutional authority over borrowing? we looked at your record when george w. bush was president. you voted at least three times against increasing the debt limit. why would congress give up that power? >> the bottom line is on debt ceiling, things shifted. i don't agree with bob corker on that issue. it shifted the way it has on taxes. senator mcconnell put on the floor a resolution that said it was his idea, not ours, that let the president raise the debt ceiling. it's money congress has already spent and let congress by two-thirds override it. he thought we democrats would run from that scared as could be. within a half hour we had 51 votes, we called his bluff a
so look, he can decide, i agree with senator schumer, we're not going to go over the fiscal cliff to use that terminology. something's going to happen before year end. hopefully it's a comprehensive package that solves our nation's problems then later, next year, we deal with tax reforms in a revenue neutral way. what i -- i'll stop. >> chris: hemorrhaginge >> this goes beyond the deal. why should congress give up it's constitutional authority over borrowing? we looked at your...
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. >> yeah, but there's stimulus the white house wants as a result of the fiscal cliff deal. they don't want to see a lapse, for instance, in the payroll tax cut. although they'd be fine with it being replaced by something else. unemployment insurance passed, infrastructure spending, those are incentives for the white house to cut a deal on the fiscal cliff as opposed to just going over it and saying, okay, we'll just take the, you know, sequester cuts and bush tax rates. >> that's right, and they were willing to do that in 2010 and were criticized, of course, by the base of the party because they felt so strongly about the stimulus measures. that shows how firmly the president is going to fight for those in the final package. >> i think there's so many reasons why boehner has to take a deal, though, in addition. if you look at the polls, 2 to 1, the public blames the republicans if there is no deal. and he's, meanwhile, gotten his tea party radicals, he's punished them for not following his line and his leadership. so, you know, look at wall street, they so far the market's
. >> yeah, but there's stimulus the white house wants as a result of the fiscal cliff deal. they don't want to see a lapse, for instance, in the payroll tax cut. although they'd be fine with it being replaced by something else. unemployment insurance passed, infrastructure spending, those are incentives for the white house to cut a deal on the fiscal cliff as opposed to just going over it and saying, okay, we'll just take the, you know, sequester cuts and bush tax rates. >> that's...
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so, the way i sigh it is right now he's focusing on the fiscal cliff. he will have to give in on entitlement issues and up to him to focus on how to make the left happy and do something with labor. a natural constituency. it will come after him if he doesn't do something about it. i think right now good politics on the issue. >> yeah, no. i tend to agree with that. he just has to show up. he wasn't as in the speech today as sort as explicit as i was led to believe this morning and the white house made it clear where he stands on this. i'm fascinated, also, by the politics of this within michigan and when's happening in michigan because this law which, you know, the final vote in the legislature will be tomorrow and the expectation is the republican governor will sign it and changes the political culture and just the working culture of michigan. talk about the right to work laws used to be just south carolina, used to be the old confederacy. to have it spread to the rust belt is dramatic. the story is governor rick snyder, republican governor, hard to be
so, the way i sigh it is right now he's focusing on the fiscal cliff. he will have to give in on entitlement issues and up to him to focus on how to make the left happy and do something with labor. a natural constituency. it will come after him if he doesn't do something about it. i think right now good politics on the issue. >> yeah, no. i tend to agree with that. he just has to show up. he wasn't as in the speech today as sort as explicit as i was led to believe this morning and the...
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the practical side those members not at the table negotiating things like the fiscal cliff and the role is something to vote on and so getting back to their districts, some of them say to you having a chance to talk with voters at home is valuable. many of them have fairly packed schedules for events at home but then you have to weigh it against the appearance of people leaving the capitol and does that suggest to people at home they aren't really as nose to the grindstone as they might be? it's an eye of the beholder moment and when you talk about a lame duck congress, here we are with many of these members waiting to have their new colleagues come in this january and tackle some of the big problems and looming deadlines. how do they shake it snout over time we have seen that the lake duck sessions are sometimes not very productive. not a lot going on. but we're certainly heavily focused on it in the last couple of weeks because of the huge problems that need to be tackled. one of the big issues is anybody really talking about what to do with the fiscal cliff other than news conference
the practical side those members not at the table negotiating things like the fiscal cliff and the role is something to vote on and so getting back to their districts, some of them say to you having a chance to talk with voters at home is valuable. many of them have fairly packed schedules for events at home but then you have to weigh it against the appearance of people leaving the capitol and does that suggest to people at home they aren't really as nose to the grindstone as they might be?...
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Dec 9, 2012
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i agree with senator schumer, we're not going to go over the fiscal cliff, to use that terminology, something will happen before year end. hopefully, a comprehensive package that solves our nation's problems and then, later, next year we deal with tax reforms in a revenue-neutral way. but i do not want to see us -- go ahead, i'll stop. >> chris: let me bring in senator schumer. and, this goes beyond simply the question of this deal. why should congress give up its constitutional authority over borrowing? you know, we looked at your record, when george w. bush was president, and you voted at least three times against increasing the debt limit. why would congress unilaterally give up that power? >> well the bottom line is, i think on debt ceilings, things have shifted. i don't agree with my good friend, bob corker on the issue. i think it shift the way it has on taxes and we just saw that. senator mcconnell put on the floor a resolution that said, it was his idea, not ours, that let the president raise the debt ceiling, after all it is money congress already spent, and, let congress, by 2/3, ov
i agree with senator schumer, we're not going to go over the fiscal cliff, to use that terminology, something will happen before year end. hopefully, a comprehensive package that solves our nation's problems and then, later, next year we deal with tax reforms in a revenue-neutral way. but i do not want to see us -- go ahead, i'll stop. >> chris: let me bring in senator schumer. and, this goes beyond simply the question of this deal. why should congress give up its constitutional authority...
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this could push the american economy off of a fiscal cliff, am i missing something here? can it be such a bad thing. not really said the cbo. if congress extents current policy, the debt and deficit will increase slowing the economy and dramatically increasing interest costs. because of the deal congress and the president made last year it be result in across the board budget reductions, still there will be no decreases in social security, medicare and veteran's benefits. defense spending would take a big hit, but because of a windown in afghanistan some military leaders are asking for less than congress is willing to shell out. from 1990 to 1999 defense spending decreased by 1% a year. this weakened military is nonsense. jim we have like what 27,000 times to blow up the country with the next amount of nukes. >> and we still have massive armies in europe protecting them from a massive soviet union. >> yeah. >> korea is another issue -- we do need people there. >> stephanie: right, but he points out who is behind all of this fiscal cliff cage rattling. the rich and their f
this could push the american economy off of a fiscal cliff, am i missing something here? can it be such a bad thing. not really said the cbo. if congress extents current policy, the debt and deficit will increase slowing the economy and dramatically increasing interest costs. because of the deal congress and the president made last year it be result in across the board budget reductions, still there will be no decreases in social security, medicare and veteran's benefits. defense spending would...
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from republicans which are these tax cuts. >> rose: if they go off the fiscal cliff they do not reach a negotiation, a compromise by december 31st, who does the whitehouse think will get the blame? >> well i think it's not just the whitehouse charlie. the whitehouse and republicans are ultimately going to be blamed for this and that's why you're starting to see some fissures amongst republican rank and file you had today 40 house republicans signing a letter and saying they think all options should be on the table, including tax cuts and entitlements. it doesn't seem to be moving. house speaker john baron. but what it could ultimately do is start to lay the ground work for providing him cover to be able to back of of off his insistence they're not going to raise rates on top earners. what that letter shows i think that republicans are acknowledging that the president does have the leverage in these negotiations. over the summer privately republicans their aides were saying they didn't think the president would let it get to that point. he's chaffed because that's what she's shown to d
from republicans which are these tax cuts. >> rose: if they go off the fiscal cliff they do not reach a negotiation, a compromise by december 31st, who does the whitehouse think will get the blame? >> well i think it's not just the whitehouse charlie. the whitehouse and republicans are ultimately going to be blamed for this and that's why you're starting to see some fissures amongst republican rank and file you had today 40 house republicans signing a letter and saying they think...
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the issue of the fiscal cliff, what's it mean? it is probably the most known phrase in politics. they say, you have to wait for everything. people understand you have to do a piece of the puzzle. you can do it today. the opportunity to keep this economy moving, it has done very well the last few years. we always wait for the big deal and something never happens. this is a chance for the middle class tax cut. i would encourage every day, what is holding it out? -- it up? you will see yourself getting a tax cut for the remainder of next year if we just move them forward. again, it is finished of the senate side. >> i want to thank my colleagues for the leadership on the steering committee in this area. we have senator olympia snowe, bill kristol of the weekly standard, like simpson of idaho. david brooks. walter jones. the national review. we're here to say that passing the middle class tax cut is the right thing to do. you don't need to take our word for it. 2/3 of the american public agree with us. you don't need to take that word either. listen to the speaker's own party. it is
the issue of the fiscal cliff, what's it mean? it is probably the most known phrase in politics. they say, you have to wait for everything. people understand you have to do a piece of the puzzle. you can do it today. the opportunity to keep this economy moving, it has done very well the last few years. we always wait for the big deal and something never happens. this is a chance for the middle class tax cut. i would encourage every day, what is holding it out? -- it up? you will see yourself...
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and i will say we have got 27 days left to see something good happen on this fiscal cliff. you know, when people tell you oh, it's very complicated, don't believe it. don't believe it. it's not complicated. there are several parts to this fiscal cliff. the biggest one is that the bush-era tax cuts are expiring on 100% of the people, and if they expire, it means people will have to pay more in taxes at a time when we don't want them to have to struggle. we want them to have disposable income because it's good for their families and it's good for the economy, it's good for business, it's good for economic growth. the bush-era tax cuts are expiring on december 31. why don't we find the common ground, get rid of that issue, get those tax cuts to the 98% of the middle class that need them and fight about the millionaires and the billionaires later? they are okay. they are just fine. and if we were to do that, that simple step -- and that means passing our bill that we passed on july 25. we did it. it's done. we don't have to worry about -- we did our job over here. we got the vo
and i will say we have got 27 days left to see something good happen on this fiscal cliff. you know, when people tell you oh, it's very complicated, don't believe it. don't believe it. it's not complicated. there are several parts to this fiscal cliff. the biggest one is that the bush-era tax cuts are expiring on 100% of the people, and if they expire, it means people will have to pay more in taxes at a time when we don't want them to have to struggle. we want them to have disposable income...
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so really it's all about the fiscal cliff, guys. i wish i had something a little more light and fun for you on a monday morning. >> nothing like going through friday's numbers, down to 7.7%. a lot of chatter over the weekend that was only because people were getting out of the workforce in record numbers, et cetera, et cetera. what's your take? what's wall street's take on the numbers on friday? >> reporter: it's like this. it's like i reported on friday. it's better than expected. what we did in our "street signs" was why are the expectations so low? i went through the numbers, back to 2002, ten years ago. 57 months in the past ten years, we have gained more than 200,000 jobs, but now 146,000 is considered good because the expectations are low. so, yes, the number was better than expected but i think as a nation many people we talked to say up to the point where we could add 200,000, 250,000 jobs a month because that will help reduce the deficit. growth is actually the best solution to reducing the deficit. it's not tax hikes. it's
so really it's all about the fiscal cliff, guys. i wish i had something a little more light and fun for you on a monday morning. >> nothing like going through friday's numbers, down to 7.7%. a lot of chatter over the weekend that was only because people were getting out of the workforce in record numbers, et cetera, et cetera. what's your take? what's wall street's take on the numbers on friday? >> reporter: it's like this. it's like i reported on friday. it's better than expected....
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we on the bridge of -- before it talk about fiscal, we are here because of the last fiscal cliff that created a scenario that led to this ridiculous idea that i voted against. let's put a bunch of bad things to happen at one time because that will force washington to do something. we have to avoid doing damage. avoid doing harm. we need to look for a way to accomplish that in the short term. and then we have to have a conversation but getting the fiscal house in order. it's fundamentally true. we spend a trillion dollars a year more than we taken. we have to address it. i approach this issue with the belief the only way with me that in order is to rapid economic order. what the president is proposing does not raise enough revenue to make a significant dent in the debt, but it will make a dent on job creation, particularly middle-class. that's why i oppose this plan. i think we should do real tax reform. there are loopholes. there's one for being able to write off your yacht as second home. let's go after things like that, but not as a revenue generating mechanism. the way is to rapid
we on the bridge of -- before it talk about fiscal, we are here because of the last fiscal cliff that created a scenario that led to this ridiculous idea that i voted against. let's put a bunch of bad things to happen at one time because that will force washington to do something. we have to avoid doing damage. avoid doing harm. we need to look for a way to accomplish that in the short term. and then we have to have a conversation but getting the fiscal house in order. it's fundamentally true....
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the cliff is something we are approaching now and we can see where it is. we know will hit the cliff. the avalanche is different. the only thing you know about avalanches, you know when the conditions are present. you know when the snowpack has built up to the point where it could happen. you do not know when it is going to happen, you just know it is coming. once it hits you, the avalanche becomes completely impossible to control. do you agree with this characterization about the avalanche? could you elaborate about that kind of threat? >> would you mind if i steal that from you? i will give you credit. i think it is right. i do think -- that is why what you're doing now is so important. this is a once in a generation opportunity for you to nail these things down. we're not that far apart. i really do not think we are. if you are able to put us on a credible path to fiscal sustainability, do it in a balanced way, i think we are golden. i think we will avoid that avalanche. if we do not do that, ultimately, it means we will never do it until we're forced by
the cliff is something we are approaching now and we can see where it is. we know will hit the cliff. the avalanche is different. the only thing you know about avalanches, you know when the conditions are present. you know when the snowpack has built up to the point where it could happen. you do not know when it is going to happen, you just know it is coming. once it hits you, the avalanche becomes completely impossible to control. do you agree with this characterization about the avalanche?...
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second, there is that fiscal cliff. it does not appear that we will see something here. that will be positive and significant. there is a billion-dollar number that is key. the revenue side, that is the key number. how do you get to that number? >> $600 billion? >> wasn't that the number two summers ago in 2011? >> i do not think so. you need the white house? >> yeah. >> we have a minute left. anyone else? >> i do not think we need to argue about the cbo right now for all the reasons we talked about. the outcomes of these experiments are uncertain. cbo cannot buy in before it knows the evidence. i strongly support what he said about leadership. this is a moment for a huge opportunity. the president needs to lead and the leaders of congress need to sit down and work this thing out. it is not that hard. we need to do it. other countries do it. we can do it. there is no reason why we should miss this huge opportunity to stabilize our that and in the -- stabilize our debt and in the process over the next few months to reform the health care system gradually and our tax code
second, there is that fiscal cliff. it does not appear that we will see something here. that will be positive and significant. there is a billion-dollar number that is key. the revenue side, that is the key number. how do you get to that number? >> $600 billion? >> wasn't that the number two summers ago in 2011? >> i do not think so. you need the white house? >> yeah. >> we have a minute left. anyone else? >> i do not think we need to argue about the cbo...
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that's not what the american people thought the fiscal cliff was about. they thought it was about trying to have something to force us, force our congress and our president to do something about the deficit and debt situation. everything they're talking about will make it worse. >> what's the answer? will we have the deal? >> the real answer is to have comprehensive. look at this. i as a republican, i would take raising the rates on the two top brackets if, in return, we had tax reform laid out over a period of months, if we had entitlement reform. we have to control defense spending. we have to control other no non- -- other discretionary non-defense spending. i think if you have the whole package, i would hold my nose despite the fact raising those two tax brackets is bad economics, bad for jobs, will hurt the economy, i would hold my nose to get the other done. what i wouldn't do is vote for that and do nothing else. >> agree completely. what i've been saying here. steve rattner. >> i agree completely. to get a big deal we all have to hold our nose a l
that's not what the american people thought the fiscal cliff was about. they thought it was about trying to have something to force us, force our congress and our president to do something about the deficit and debt situation. everything they're talking about will make it worse. >> what's the answer? will we have the deal? >> the real answer is to have comprehensive. look at this. i as a republican, i would take raising the rates on the two top brackets if, in return, we had tax...
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below that, governors say the fiscal cliff would hurt their states' economies. several governors met at the white house yesterday and with political leaders to say something needs to be done or their economies and on the state level will be heard. -- be hurt. let's go to walter in new jersey, independent caller. good morning. caller: good morning. i don't know what's wrong with these people, because they have to come to some kind of agreement. the gop has to give ground, taxes wouldybody's go up just to save 2%. it just does not cut it. it is a bad move politically and bad for the country. host: polloi in johnsonville, virginia. -- floyd. caller: i was thinking about the fiscal cliff. i don't think that's the problem at. the problem is when we fell off the moral cliff. our president said gay marriage was ok. and america killing so many babies. side,e get back on god's everything else will take care of itself. that's the way it is. a guy said it seemed like christians are down and out. let me tell you, christians are the happiest people there is, because we have
below that, governors say the fiscal cliff would hurt their states' economies. several governors met at the white house yesterday and with political leaders to say something needs to be done or their economies and on the state level will be heard. -- be hurt. let's go to walter in new jersey, independent caller. good morning. caller: good morning. i don't know what's wrong with these people, because they have to come to some kind of agreement. the gop has to give ground, taxes wouldybody's go...
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i worry that during this fiscal cliff we're going to lose those benefits. but i will tell you, i will fight that we don't go over the fiscal cliff. and in the meantime, i say to the men and women at bethlehem steel, thank you for what you did. you built america. you helped save america. you helped save western civilization. we're going to work right now to save your safety net benefits. come to that hall where you can apply for those benefits. they're still there, and we still want to make sure you're eligible. but we want not only a safety net to get you over the hard time, because we believe the best safety net is jobs in american manufacturing. madam president, i'm going to yield the floor, but i will not yield the fight for american jobs. i note the absence of a quorum. the presiding officer: the clerk will call the roll. quorum call: a senator: madam president? the presiding officer: the senator from new york. mr. schumer: i ask unanimous consent the quorum call be dispensed with. the presiding officer: without objection. under the previous order, the
i worry that during this fiscal cliff we're going to lose those benefits. but i will tell you, i will fight that we don't go over the fiscal cliff. and in the meantime, i say to the men and women at bethlehem steel, thank you for what you did. you built america. you helped save america. you helped save western civilization. we're going to work right now to save your safety net benefits. come to that hall where you can apply for those benefits. they're still there, and we still want to make sure...
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so that may have something to do with the fiscal cliff. there's a bit of a slowdown there. the economy is moving along, not as robustly as they'd like it to be, which is why they extend this to make money cheaper. >> what does that mean for businesses in terms of confidence? >> the first gauge we get is to see how markets are doing. there's a bit of a rally on the stock market as a result. you can never trust what happens immediately after these announcements because it could be traders doing things. dow subpoena a quarter there. you can see 27 basis points right now. what it means is the same thing it meant until now. we have long-term low interest rates. it's cheap to borrow money in america. it's not necessarily easy it to borrow money. lending standards are still high, and many businesses as we have seen that either have cash or access to credit are not making decisions until they have some certainty about what government is going to do. we may get that certainty as soon as we get a fiscal cliff deal, maybe january or february by the time we know what will happen. that
so that may have something to do with the fiscal cliff. there's a bit of a slowdown there. the economy is moving along, not as robustly as they'd like it to be, which is why they extend this to make money cheaper. >> what does that mean for businesses in terms of confidence? >> the first gauge we get is to see how markets are doing. there's a bit of a rally on the stock market as a result. you can never trust what happens immediately after these announcements because it could be...
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know that at the end of this month and we're right at the fiscal cliff and we look at john boehner and you're right, he did give up revenue. he said okay. i'm going to cave on that. we'll raise revenue. but the president has been absolutely adamant, i'm not budging unless the top 2% pay a higher rate. not just revenue, a higher rate. >> the top 2% will pay higher taxes because of the revenue rates that we will raise without raising the tax rates. once you raise the tax rates, they become permanent. you can't change them. it will be almost impossible to change them and of course, that affects, like i say, almost a million small businesses and about 700,000 jobs. that's what the american people aren't getting from the debate on this subject. frankly, it is a bait and switch because the president has put out a plan that even democrats won't support that literally will not work, that literal israeli going to cause even more spending than we have right now, and put us even more than the 16 trail, $300 billion debt that we're incurring, going up every day. >> steve: senator, for generations,
know that at the end of this month and we're right at the fiscal cliff and we look at john boehner and you're right, he did give up revenue. he said okay. i'm going to cave on that. we'll raise revenue. but the president has been absolutely adamant, i'm not budging unless the top 2% pay a higher rate. not just revenue, a higher rate. >> the top 2% will pay higher taxes because of the revenue rates that we will raise without raising the tax rates. once you raise the tax rates, they become...
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immigration and tax reform post the fiscal cliff will create a legacy and may see congress doing something. >> that is why it is so important that they figure out a way to come together before the end of the year hopefully. if the environment is poisoned like it was after the stimulus, after the health care debate, the next four years will be ugh low. >> that's true. the higher number of women increases the chances. we will see. >> i saw the women here smiling. we were talking about how collaborative they were. the guys, not so much. >> we don't smile. i agree. the more women the better. i'm agreeing with you. can i say nothing? i said the more women, the better. i'm agreeing with you. the more women, the less self destructive egos and getting to a deal. do you have a problem with that. >> no,i don't. >> go with it. i give up. >> all right. still ahead, hollywood mogul joins us on set and author sebastian younger will be here. more morning joe in a moment. ♪ for over 40 years, we've brought our passion for fine coffee and espresso to people everywhere. but one place was impossible, until
immigration and tax reform post the fiscal cliff will create a legacy and may see congress doing something. >> that is why it is so important that they figure out a way to come together before the end of the year hopefully. if the environment is poisoned like it was after the stimulus, after the health care debate, the next four years will be ugh low. >> that's true. the higher number of women increases the chances. we will see. >> i saw the women here smiling. we were talking...
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the president has known about this fiscal cliff for over a year. and many of his decisions caused us to be in this position. >> stephanie: it is outlandish. it is what he ran on. it is outlandish he proposed doing it. >> the next thing will be a debt ceiling fight. let's be very clear. the debt ceiling is about money we have already spent in large part due to the continuing afghanistan war and the iraq war. this is money -- >> tax cuts for rich people. >> right right. and medicare part d but the point is it is money we've already spent based on republican policies going on for eight years. this is money that's already due that we're making payments on. >> stephanie: speaking of the tax cuts, george w. bush gave a speech yesterday. >> oh, nice. >> people listened? was it a learning appear ex thing? annex thing? >> stephanie: it was hosted by the george w. bush institute. one of the bush institutes' focuses is economic growth. [ ♪ circus ♪ ] >> he might need some bifocals on that focus. >> stephanie: he said his u.s. debates policy, we should do
the president has known about this fiscal cliff for over a year. and many of his decisions caused us to be in this position. >> stephanie: it is outlandish. it is what he ran on. it is outlandish he proposed doing it. >> the next thing will be a debt ceiling fight. let's be very clear. the debt ceiling is about money we have already spent in large part due to the continuing afghanistan war and the iraq war. this is money -- >> tax cuts for rich people. >> right right....
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>> the fiscal cliff is something he will talk about, say they have to solve this. he's talked before about the upside and said twice already the federal reserve cannot off-set the effects of the fiscal cliff. the fed could -- one idea -- the fed could keep a little bit of powder dry if we do go off the cliff, the fed has something it could do. >> mike duke last night the ceo of walmart spoke and he sa said -- they poll their shoppers all the time. a week before the election, 25% of walmart customers knew about the fiscal cliff. one week after the election, 75% of their shoppers know about the fiscal cliff and 15% say it means they will spend less on christmas. it's pre-telling, right? >> apparently the walmart shopper is more informed than the average american. we showed 70%. that's out there. it's something that affects people. it was clear in the data there was an effect of the fiscal cliff on overall economic attitudes. the more important thing we found is that it affects businesses and businesses slow down in capital spending. you're an economic student and you
>> the fiscal cliff is something he will talk about, say they have to solve this. he's talked before about the upside and said twice already the federal reserve cannot off-set the effects of the fiscal cliff. the fed could -- one idea -- the fed could keep a little bit of powder dry if we do go off the cliff, the fed has something it could do. >> mike duke last night the ceo of walmart spoke and he sa said -- they poll their shoppers all the time. a week before the election, 25% of...
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Dec 12, 2012
12/12
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KQED
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the stock market took its cues once again from washington and the rhetoric over the fiscal cliff. it was the fifth straight session of gains, with the buyers out at the opening bell. the index lost some momentum around 2:30 eastern time, something traders blame on comments from senate majority leader harry reid. reid said it would be extremely difficult to get legislation averting the fiscal cliff through the senate before christmas. with today's seven-tenths of a percent gain, it brings the index back to a level last seen on election day. for the year, its up 13.5%. trading volume increased to 691 million shares; just over 1.9 billion shares on the nasdaq. the technology sector was back in the leader position, up 1.4%. health care and telecommunications were up 1%. with the tech sector up, apple was helping out as it rebounded a little from its recent sell- off, but on lighter volume. shares rose 2.1%. piper jaffray's apple analyst predicts a more steady stock rally next year, and he's sticking with his $900 price target. it was a pair of business software firms that had the best
the stock market took its cues once again from washington and the rhetoric over the fiscal cliff. it was the fifth straight session of gains, with the buyers out at the opening bell. the index lost some momentum around 2:30 eastern time, something traders blame on comments from senate majority leader harry reid. reid said it would be extremely difficult to get legislation averting the fiscal cliff through the senate before christmas. with today's seven-tenths of a percent gain, it brings the...
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Dec 11, 2012
12/12
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MSNBCW
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now we're talking about using the fiscal cliff or the debt ceiling as the ultimate weapon, trying to get something from the president now or give something to the president now with a threat that the debt ceiling will be used as the weapon in a few weeks or months. and quite frankly, that's no way to run a country. we need to move beyond this stalemate and this gridlock and both parties need to come together. i think the president's trying his best and, quite frankly, i would say that speaker boehner is really trying here. but these are difficult circumstances and i believe -- i return to what i said earlier. we had an election. the president won. when it comes to these tax matters, the people of this country are supportive of the president's approach. >> i'm curious, chip, and you were on this teleconference and obviously those are people very involved and very interested but there's an awful lot of fatigue, election fatigue in this country and, frankly, the holidays -- holiday season is upon us, people are busy, kids are back in school, so son and so forth. how much is public press
now we're talking about using the fiscal cliff or the debt ceiling as the ultimate weapon, trying to get something from the president now or give something to the president now with a threat that the debt ceiling will be used as the weapon in a few weeks or months. and quite frankly, that's no way to run a country. we need to move beyond this stalemate and this gridlock and both parties need to come together. i think the president's trying his best and, quite frankly, i would say that speaker...
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70
Dec 13, 2012
12/12
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CSPAN2
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cliff, while not something to be encouraged, may not be as bad as many had thought, and, certainly, it is not worth making bad policy that will have m r much longer range -- will have much longer range implications. the second issue, another kind of artificial date has been in law for decades, and congress periodically as a part of debate over whether to extend it. it's app interesting debate. there really is no option. you either extend it or you default. default really shouldn't be an option, and it's something that should be avoided at all costs. we put this quick little date in there so that we can have the debate, have a vote, and then extend the debt ceiling as we know we have to. that's fine we have the issue of the debt and deficit in the long run. the issues of real importance because, one, we don't account for our expenditures the way businesses do, the way individuals have to. we get toking the for -- to account for them and ignore many of the long term implications, and if we put them in, it increases the amount of debt that we owe and have promised dray mat -- dramatica
cliff, while not something to be encouraged, may not be as bad as many had thought, and, certainly, it is not worth making bad policy that will have m r much longer range -- will have much longer range implications. the second issue, another kind of artificial date has been in law for decades, and congress periodically as a part of debate over whether to extend it. it's app interesting debate. there really is no option. you either extend it or you default. default really shouldn't be an option,...
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Dec 7, 2012
12/12
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WBAL
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cliff. you can tell the pentagon is scaling back. today it became the triangle. [ laughter ] you know there's a teacher at home going yes! my math teacher. exactly. he learned something. and finally an entrepreneur in colorado has crafted an ice cream that's infused with marijuana. [ cheers ] which is why when you go to put in the freezer, it's like, "i'm already chill, man." [ laughter ] we got a great show for you tonight. give it up for the roots! [ cheers and applause ] ♪ >> jimmy: hey! we are in a great mood here at "late night." the grammy nominations were announced last night. i want to say congratulations to the roots! [ cheers and applause ] ♪ their album "undun" got nominated for best rap album. how cool is that? [ cheers and applause ] the greatest band in late night. but that's not all. [ drum roll ] our record "blow your pants off" got nominated for best comedy album! [ cheers and applause ] ♪ i'm so excited. i was freaking out last night. i couldn't sleep. oh, my god. thi
cliff. you can tell the pentagon is scaling back. today it became the triangle. [ laughter ] you know there's a teacher at home going yes! my math teacher. exactly. he learned something. and finally an entrepreneur in colorado has crafted an ice cream that's infused with marijuana. [ cheers ] which is why when you go to put in the freezer, it's like, "i'm already chill, man." [ laughter ] we got a great show for you tonight. give it up for the roots! [ cheers and applause ] ♪...
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Dec 13, 2012
12/12
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MSNBCW
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it would be something like that. but remember, these guys hate the fiscal cliff. you know, it has caused this enormous problem. so the idea of setting up another fiscal cliff six months from now is pretty unappealing. but they'll have to go there. they just haven't quite figured out how to go there yet. >> harold, jump in. to an extent you'd feel the republicans are cornered on their position a bit, especially with this 2% in terms of raising tax rates? how do they get around this and argue back? i don't see it. >> well, i think early on, if you think about a year ago, a little over a year ago, the republicans had a better deal than what's put on the table now. they had a 3 1/2 ratio of spending cuts to tax increases. you're looking at best a 2-1, pure politics. so they've lost that part of the argument. you flip it over and i think these numbers that we're seeing this morning that we've all commented on -- and i happen to agree with steve and david's analysis that at the end of the day, we'll just extend the cuts for middle-class earners and raise it on the top e
it would be something like that. but remember, these guys hate the fiscal cliff. you know, it has caused this enormous problem. so the idea of setting up another fiscal cliff six months from now is pretty unappealing. but they'll have to go there. they just haven't quite figured out how to go there yet. >> harold, jump in. to an extent you'd feel the republicans are cornered on their position a bit, especially with this 2% in terms of raising tax rates? how do they get around this and...
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Dec 11, 2012
12/12
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CNBC
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it may not entirely show itself in this fiscal cliff fix, but the fix may be coming. i'm kudlow. we'll be right back. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>> u.s. tax dollar funded battery marker a-123 systems is up for sale. the winning bid goes to -- china. so i asked was red china rising why u.s. taxpayers have to finance their battery companies. here's ann lee, author of "what the u.s. can learn from china," professor of nyu and visiting professor from beijing university and author kwof "death by china" and cnbc contributor. ann, let me go to you first. if we, the u.s. taxpayer and government are dumb enough to build a goofy battery company that goes bankrupt why shouldn't china scoop it up? >> i think this is a great story. first of all, taxpayer money wasn't wasted. all that money from the gov
it may not entirely show itself in this fiscal cliff fix, but the fix may be coming. i'm kudlow. we'll be right back. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>> u.s. tax dollar funded battery marker a-123...
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Dec 13, 2012
12/12
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MSNBCW
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it's an issue in this fiscal cliff fight. particularly if we go over the cliff and it turns into a pr battle. it's a problem longer-term, 2014, 2016. the party has to find a way to remake what people think of it and they're not there yet. >> and when you look, mark, at the optimism, pessimism, you find that people who are evenly divided, 48-48, as to whether there will be an agreement, they really want an agreement, though? >> this is a pessimistic are but a realistic public right now, and it's the public that watched what happened in 2011 during the debt ceiling standoff there. it was really interesting. we actually asked the question in december of 2008 after barack obama won his first presidential contest, and at that time 52% actually said we think the next congress is going to be an era of unity and willingness to compromise in congress. now when we ask that xwe, the newest poll, 69% actually are predicting disunity, division, and so this is a much more realistic public right now that is seeing everything that's going on
it's an issue in this fiscal cliff fight. particularly if we go over the cliff and it turns into a pr battle. it's a problem longer-term, 2014, 2016. the party has to find a way to remake what people think of it and they're not there yet. >> and when you look, mark, at the optimism, pessimism, you find that people who are evenly divided, 48-48, as to whether there will be an agreement, they really want an agreement, though? >> this is a pessimistic are but a realistic public right...